On April 29th, Cheung Kong Graduate School of Business (CKGSB) Founding Dean and Professor of China Business and Globalization Xiang Bing joined Thomas L. Friedman, Recipient of three Pulitzer Prizes and Author, Reporter and Columnist for The New York Times; Joseph S. Nye, Former Dean for Harvard University’s Kennedy School of Government; and Wang Huiyao, Founder and President of the Center for China and Globalization (CCG), at the 2020 Boao Dialogue on COVID-19 vs. Globalization, moderated by CGTN Anchor Tian Wei. The four notable panelists discussed and debated ideas on the pertinent topic of the pandemic’s implications on globalization and the extent of these impacts on global trade, cross-border investments and the global supply chain.

“It is important to know many of the issues and challenges we talk about today emerged long before COVID-19, but some of the issues arising from the outbreak are unique. Global governance is dysfunctional. Without good global governance, it would be difficult to have a globalization that will bring about common global good. The U.S must return to its leadership role, and China and the U.S must work together, in order for global governance to work. This being Plan A, there is no Plan B.” explained Dean Xiang Bing. “International organisations like the World Trade Organization and World Health Organization must be strengthened. These international bodies are important in light of the rise of protectionism and nationalism because, if they do not contain issues like the pandemic today, it will result in intensified debates between authoritarian systems and democracies. For example, you can see the rise of the self-reliance and self-sufficiency argument to be used against trade,” he added. “This outbreak will somewhat restrain companies’ ability to leverage resources globally. I believe many companies will have second thoughts when they build a global supply chain and the supply chain in the future must be able to accommodate the potential hiccups posed by issues like COVID-19.”

“I don’t look at it only as a crisis, but an opportunity for soul searching, it is important to have solidarity and to be positive, constructive and cooperative. I would like to see this global pandemic bring more positive elements of our humanity to fix our problems. CKGSB has been prioritizing global responsibility and humanity in its business education, aiming to foster business leaders who will compete with compassion and empathy,” said Dean Xiang Bing.

“If governments cannot solve problems alone, we need non-governmental sectors such as business schools, civil society and companies, to work together and play an important role. To weather through the crisis, I believe it is important to have young globally-minded talents who shoulder global responsibilities to compete and collaborate with compassion and empathy to be political leaders, civil society leaders and business leaders.”

Watch the full dialogue below:

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